Members of the Fayette All Age Friendly Committee, seen here in December 2024, recently met on Feb. 19 for a Muffin Morning featuring a financial safety talk by Amanda Lee of Franklin Savings Bank at Starling Hall in Fayette. File photo/Franklin Journal

FAYETTE — The Fayette All Age Friendly Committee Muffin Morning at Starling Hall took place Wednesday, Feb. 19, featuring a presentation from Amanda Lee, AVP branch manager at Franklin Savings Bank. The event marked the first in a three-part series on financial security.

“This will be the first in a small series that I plan to do at Starling Hall,” said Lee. She brought bank-provided refreshments and addressed topics including fraud prevention, password security and online scams.

Fraud prevention and online scams
Lee highlighted the increasing risks of financial fraud, sharing real-life cases.

“We have seen people lose thousands and thousands of dollars, unfortunately,” she said. “A lot of times, they are embarrassed to share that they have been taken advantage of.”

One case involved a customer who believed she was engaged to a celebrity she met on Facebook. Despite warnings from the bank, she continued sending money and gift cards. “We couldn’t convince her. It is sad. It really is,” Lee said.

Discussing fraudulent bank calls, Lee explained that some scammers impersonate banks and request personal information such as a PIN. “At Franklin, we have security questions and other features. We don’t usually use the PIN – it is just another safeguard,” she said.

Lee warned that scammers often start with small amounts to test an account. “They try an inconspicuous amount, just a couple of dollars. $30 is just a couple dozen eggs at this point,” she said. Banks have security features in place, including third-party fraud departments that notify customers of unusual transactions.

Protecting accounts and personal information
Lee offered tips for setting up secure passwords, emphasizing the importance of unique and complex combinations.

“We don’t want you to put your dog’s name and ‘123.’ Come up with something more secure,” she said. She recommended using phrases, such as “ilovemydogrover,” with intentional misspellings or varied capitalization.

A password manager can help, Lee noted. “It’s one password to remember and it stores your usernames and passwords. Google offers one, and at work, we use KeePass,” she said.

She also advised creating a secondary email account specifically for online purchases and subscriptions. “This limits spam and helps keep your primary email more secure,” Lee said.

Recognizing scams and suspicious activity
Lee detailed common scams, including fraudulent bank messages. “We’ve seen text messages that say, ‘Your bank account has been compromised – click this link,’” she said. “We won’t send you a text message or email. We will call and make sure it is you, and you should make sure it is us.”

Other scams involve fake emergencies from supposed family members or fraudulent sweepstakes winnings. “If it is too good to be true, it probably is,” she warned.

Lee recalled an elderly man who believed he had won a Publisher’s Clearing House prize. “He was adamant Channel 6 News was coming with his check. When they didn’t show up, he was devastated,” she said. “These scammers prey on the elderly, the lonely and the widowed. You have to be vigilant.”

Digital security and safe banking practices
Lee recommended enabling two-factor authentication on accounts. “It adds an extra layer of security,” she said. “Instead of just entering a password, you get a code sent to your phone or email. It ensures that only you can access your account.”

Discussing social media risks, she urged attendees to be cautious about sharing personal information.

“Social media relationships can be dangerous for all ages, from teens to middle-aged adults,” she said. She also warned against posting vacation plans online. “Wait until you return to post your trip photos,” Lee advised. “Otherwise, you’re advertising that your home is empty, just like in Home Alone.”

Credit protection and digital wallets
Lee recommended freezing credit reports to prevent identity theft. “You can get a free annual credit report at annualcreditreport.com,” she said. If an individual’s information is exposed in a data breach, she advised accepting any credit monitoring services offered.

One attendee asked about digital wallets. Lee plans to discuss them in next month’s session, but another participant, Lori B., shared her experience. “I use my phone as my payment method,” she said. “You just hold your phone over the payment pad and it goes through. I get a text or email confirmation right after.”

Upcoming topics
Next month’s presentation will focus on securing financial legacies. “We’ll cover what to expect when preparing for life’s unexpected events, including setting up beneficiaries and powers of attorney,” Lee said. In April, the discussion will return to fraud awareness and financial scams.

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